PRELIMINARY

We use survey techniques to deepen our understanding of self con-trol problems: 1. While standard theories of self control problems predict over-consumption, we find that many have the opposite problem of under-consuming. 2. As theory predicts, standard self control problems impede wealth accumulation, particularly in liquid form. Problems of under-consumption have the opposite effects. 3. Self control is linked to “conscientiousness”, a trait much studied by personality psychologists. This may explain why planners ac-cumulate higher wealth than do non-planners (Ameriks, Caplin, and Leahy [2003]).